1H FY2026 Financial Results Press Release

PRESSRELEASE FRASERS

S$88.4 million

⬥ Disciplined strategy execution supporting earnings quality, capital efficiency and long-term resilience

⬥ Higher PBIT underpinned by residential projects in Singapore, Australia and China, and land sales in Australia and Thailand

Frasers Property Limited ("Frasers Property", and together with its subsidiaries, the "Group") today announced its financial results for the first half-year ended 31 March 2026 ("1H FY26").

The Group's 1H FY26 PBIT rose 13.2%, driven by residential projects in Singapore, Australia and China, industrial estate land sales in Thailand, non-core land sales in Australia, and higher retail contribution from Singapore following the increased stake in North point City South Wing in May 2025. Attributable profit was impacted by an impairment on an investment in Thailand of

$38.2 million. Excluding the one-off tax provisions reversal in 1H FY25, attributable profit rose 77% year-on-year.

‌1 Profit before interest, fair value change, tax and exce Dtional ite ms, deDreciation, amortisation, and non-control ling interests Profit before interest, fair value change, tax and exce Dtional items, and non-control ling interests‌

‌Profit after interest, fair value chan ge, tax and exce Dtional ite ms, and n on-control ling interests

Net asset value per share as at 31 March 2026 rose to $2.40 (30 September 2025: $2.37). The Group's net debt4 to property assets ratio as at 31 March 2026 stood at 45.5% (30 September 2025: 43.7%), while net debt to total equity' ratio was 94.2% (30 September 2025: 89.2%). The higher net debt to total equity ratio was mainly due to the redemptio n of perpetual securities in January 2026. Approximately 69.4% of the Group's total debt was on fixed rates or hedged, with a weighted average de bt maturity of 2.5 years and blended cost of debt of 3.8% per annum. The Group remains focused on value unlocking to manage leverage and support a healthy balance sheet.

1H FY26 KEY HIGHLIGHTS AND LOOKING AHEAD

Disciplined development for better risk-adjusted returns

The Group grew its development exposure selectively, focusing on well-located sites in markets with strong underlying fundamentals. Partnerships remain central to its residential development strategy, as demonstrated by the acquisitions via joint ventures of a residential site at Suhewan in Shanghai, China and the Kallang Close government land sales site, a rare city-fringe waterfront location in Singapore.

The residential development pipeline provided strong earnings visibility, with unrecognised revenue of S$1.1 billion as at 31 March 2026. The Group also advanced its build-to-core strategy with approximately 1,067,000 sqm of industrial and logistics development pipeline in key markets, of which 33,000 sqm was delivered in 1H FY26.

Active asset and portfolio manaeement underpinning recurring income

Recurring income accounted for approximately 76% of 1H FY26 PBIT, supported by active asset and portfolio management. During the period, the Group progressed asset enhancement initiatives across selected hospitality and Singapore suburban retail assets to support income quality. Ongoing portfolio rebalancing across markets and asset classes reinforces earnings quality and supports resilience through economic and real estate cycles.

Svstematic capital recvcline and value realisation

Capital recycling is central to the Group's portfolio management. In the current operating environment, Frasers Property has maintained its focus on value realisation. The Group continued to realise value through multiple pathways, including recycling via the Group's strategic RElTs platform, leveraging capital partnerships, third-party divestments and redevelopment and value-add initiatives. Notably, in April 2026, Frasers Property completed the divestments of its first built-to-rent development, Brunswick & Co, in Queensland, Australia, as well as Burwood Brickworks Shopping Centre in Victoria, Australia. Meanwhile, in Singapore, the

‌° Inc ludes net debt of consolidated SGX- listed RElTs

‌Inc lu des non-co ntrollin g interests (primar ily relate d to consolidated SGX- listed REITs) and De rDetual sec u cities

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award of the collective sale tender6 for the leasehold rear plot of The Centre point in February 2026 now allows the Group to assess broader rejuvenation opportunities for the area.

Execution capabilitv and lone-term resilience

Frasers Property's operating platforms, people and standards support consistent execution across the Group. In Thailand, the operational integration of Frasers Property Thailand and One Bangkok platforms has strengthened its scale and resilience. At the Group level, continued investment in leadership and capability building, including the appointment of a Group Chief Operating Officer, effective 1 October 2026, deepens its execution depth and supports more focused delivery of strategic priorities.

Together, these efforts reflect clear progress in strategy execution, risk management and sustainable value creation, positioning the Group to adapt and operate through an uncertain global environment. Heightened geopolitical tensions are contributing to energy disruptions, trade frictions and renewed inflationary pressures, underscoring the importance of disciplined execution and portfolio resilience.

END

‌6 The completion of the acquisition of Management CorDo ration Strata Title (MCST) Plan No. 130a or the leasehold rear Dlot at The

Centre point is subject to the obtaining of a sale orde r apDroving the collective sale or receipt of consent from all subsidiary DroD rietors to the sale

About Frasers Property Limited

Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Frasers Property Group" or the "Group"), is an integrated investor-developer-operator of real estate products and services. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately 5840.0 billion as at 31 Nlarch 2026.

Frasers Property operates across five asset classes: industrial & logistics, retail, commercial & business parks, residential and hospitality. Its businesses span Southeast Asia, Australia, Europe and China, and its well-established hospitality business owns and/or operates serviced apartments and hotels in 20 countries.

The Group is the sponsor of real estate investment trusts ("REITs"), Frasers Centrepoint Trust and Frasers Logistics & Commercial Trust, listed on the SGX-ST, as well as Frasers Property Thailand Industrial Freehold & Leasehold REIT and Golden Ventures Leasehold Real Estate Investment Trust, listed on the Stock Exchange of Thailand.

Guided by its purpose of inspiring experiences and creating places for good, the Group promotes an ESG framework that supports long-term value creation through focus areas such as transparent governance, sustainable finance, inclusive communities and reducing our carbon emissions. Frasers Property aims to deliver lasting shared value for its customers, people, investors and communities, while fostering a progressive, collaborative and respectful culture.

For more information on Frasers Property, please visit fraserspropertv com or follow us on LinkedIn.

CONTACTS:

Frasers Property Limited

MEDIA RELATIONS

Adeline ONG / Kelvin LEE

+65 6277 4882

INVESTOR RELATIONS

Gerry WONG

+65 6277 2679

Edelman Smithfield

Jass LIM / Enya RODRIGUES

+65 9844 9489 / +65 8368 1840

iass Iim@edel mansmithfield com / enva rodrieues@edelmansmithfield com

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